‘Redundancy was the best thing that ever happened to me’

Things looked grim for Virgin Media TV host TOMMY MARTIN when he was made redundant from a bank in 2006 as the financial crash loomed. But it couldn’t have worked out better for the Donegal man as his redundancy package paid for a wedding, the trip of a lifetime to South America, a deposit for a house near the bottom of the market and a career change from boring banking to sports broadcasting. Now he has a dream job fronting Virgin Media’s extensive soccer coverage, which includes 343 Champions League and Europa League matches.

What was the first paid work you ever did?

I got a summer job in a local fish factory in Donegal when I was 15. I was glad of the job but I can still remember the smell. Put me off fish fingers for years.

Ever struggled to make ends meet?

I went travelling in South East Asia and Australia about 20 years ago. We worked in Sydney for a few months then drove around Australia in a beatup old car. The money ran out a few days north of Perth. We lived in a tent and ate Yellow Pack noodles. Still had enough money for a slab of cans every night though…

Ever paid silly money?

Sadly not! I cover professional footballers for a living. Some of them get paid €400,000 a week. Now that’s silly money.

Have you good health cover?

I’m fortunate to be on a company plan with Virgin Media. I wouldn’t do without it, though I wish we had a stronger public system in this country.

Best year of your financial life?

My wife (then girlfriend) and I both got redundancy from working in a bank in 2006. The money we got helped pay for us to go travelling in South America, change careers (she became a teacher, I got into broadcasting), pay for a wedding and the deposit for a house. Best thing that ever happened.

Most expensive thing you bought for fun?

I don’t own anything expensive. I prefer experiences to things. I recently bought a load of tickets for Euro 2020 Finals matches next summer. My credit card almost melted but I can’t wait.

Biggest money mistake?

€10 each way on a horse at the Curragh last week that my brother-in-law gave me a tip for.

Best financial decision?

Joining the credit union. Always there when you need it, very easy to deal with.

Do you have a pension or invest in shares?

I have a pension and a few bits of shares but I won’t be swanning around in a fur coat in my retirement.

Do you own a property?

My wife and I bought our house in Marino in 2010, close to the bottom of the crash. It was a tough time to get a mortgage as the banks had pretty much shut up shop, but a great time to buy given that values have gone up so much since then. Not that we are that bothered about house prices as we love the house and the area and can’t see ourselves ever selling up.

Ever been ripped off?

My friend Paul and I nearly fell for a jewel scam in Bangkok while travelling. It was this elaborate con job in which they were trying to get dumb backpackers to buy these gemstones which they would sell in Australia for a profit. We backed out of it at the last minute, thankfully. When we got back to our hostel I opened the Lonely Planet guide book on the page ‘Dangers and Annoyances’ – it said ‘Beware of Jewel Scams’ in giant bold writing…

What’s the one little luxury you’d treat yourself to?

Bottle of single malt scotch while passing through Duty Free.

Any thoughts on Brexit?

The softer the better for Ireland obviously. Our neighbours have completely lost their minds and we need to hope they see sense before too much damage is done.

What would you do if finance minister?

Tax the super rich. Along with climate change, income inequality is the greatest problem facing humanity. The concentration of wealth among a tiny elite needs a unified global solution, which is unlikely with some of the characters in power at the moment.